Ian Wakelin, CEO of Biffa
The High Wycombe-headquartered waste management company saw pre-tax profit rise 56.1% to £26.7m during the first half of the year.
Biffa chief Ian Wakelin has hailed the company’s recent acquisition spree after the company saw pre-tax profits and revenue soar during the first half of the year.
The company saw pre-tax profit rise 56.1% to £26.7m during the six months ended 22 September, with net revenue increasing by 7.8% to £481.6m, compared to the same period last year.
Biffa made two acquisitions during the period, which included the takeover of O’Brien Waste Recycling Solutions for a whopping £35.2m.
The company is now looking to continue pursuing potential acquisitions as it plans for the future post-Brexit.
Wakelin, chief executive of Biffa, said: "We are pleased to have achieved a strong performance in the first half of this year, during which we have continued to deliver on our acquisitive and organic growth strategy.
"Biffa maintains its market leading position as a fully integrated waste management specialist, and is well placed to leverage its scale and presence both to consolidate a fragmented market place and to further drive shareholder value by continuing to optimise and grow our existing operations.
"Looking ahead, we see attractive growth opportunities, including a healthy pipeline of acquisitions, of a range of sizes. We also have scope to continue to develop our infrastructure and services, taking advantage of the significant amount of waste we control.
“We look forward to reporting on the progress made in our EfW feasibility assessments when we announce our full year results.
"Our full year expectations remain unchanged and we look to the future with confidence."
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